The university operates a scholarship system to offer financial aid to students from low income families. In order to receive these scholarships, students must maintain a superior academic record. In the Spring 2006 semester, 32% of undergraduate students and 100% of graduate students received scholarships. The following scholarships and student loans are available to eligible students :

The residence buildings are available to all students registered. Each room is fully furnished except for the beddings and towels. Cooking facilities are not available for individual units. The dormitories provide other subsidiary facilities such as cafeterias, laundry rooms, public bathrooms, table tennis rooms, health clubs, internet rooms, and common rooms (TVs and VTRs are equipped).

Web based wire and/or wireless network are available at any place where computers are at hand. Any member of the University can access the so-called UWIN system(University of Ulsan Web Based Information Network) to get information about university life and affair. UOU offers more than 100 cpmputers located in CIM Labs to students for their use.

It is also worthy of close attention that many students in NAOE have won contests in the relevant field. For example, the NAOE team has won a prize for six straight years in the "Student Ship Design" contest held under the auspices of the Society of Naval Architects of Korea. The NAOE student team has also won the first prize in 'The EBS Science Boat Contest' sponsored by Educational Broadcasting Station of Korea(EBS) for two straight years.